Now, I know not everyone shares my hatred for this particular hoop banks usually want us to jump through – the direct deposit requirement. It’s not that hard to set up a direct deposit, right? Well, when you churn banking bonuses, you probably don’t want more complications in your life than you already have, or, at least, I don’t. Which is why, I think this bonus is OK. Not spectacular, but just OK if you want an easy $300.

The M&T Bank $300 bonus terms

Here is what you’d need to do to get the $300 bonus:

Open a new MyChoice Premium Checking account by September 28, 2018

Deposit $10,000 or more by September 28, 2018

Maintain a $10,000 average daily balance in October and November 2018

Receive $300 cash bonus by December 31, 2018

Reading the terms and conditions, I don’t see anything about direct deposits being a part of the deal.

The M&T Bank $300 bonus terms gotchas

$300 cash bonus is not available for accounts opened online (not sure if it means that you can open over the phone).

The MyChoice Premium Checking account costs $24.95 a month (avoidable if you maintain the average $7,500 monthly).

You’ll tie up $10,000 for 2 months, and 7,500 for the third month.

You’ll be hit with an early termination fee of $50 if you close your account within the first 6 months (I’d take the hit rather than tie up my money for another 3 months).

I received the offer in the email. There is no direct link, and are no special codes, so I presume it’s a public offer, and everyone is eligible, so you can call or visit the branch and mention the $300 bonus for opening a new MyChoice Premium Checking account. The M&T Bank operates in the following states:

Connecticut

Delaware

District of Columbia

Florida

Maryland

New Jersey

New York

Pennsylvania

Virginia

West Virginia

I have no idea whether it would or wouldn’t work for out-of-state customers.

The Phone Number is: 877-794-2373

How does the M&T Bank $300 bonus compare to other M&T offers?

Unfavorably, if you don’t count the lack of direct deposit requirement. This M&T Bank $250 offer is better if you don’t mind the $500 – $1,500 direct deposit for the first 3 months. See which of these offers works better for you.

Hi. My name is Andy Shuman. I'm an avid traveler, a travel and credit writer, and I'm the author of the bestselling Lazy Travelers Handbook series. My message is simple. Every American with good credit can travel for free. Not just cheap, but free! READ MORE